Yesterday I tweeted about Barney Frank’s idea of giving unemployed homeowners access to low interest loans. The theory is that it help fills a gap in the Obama Administration’s plan to address foreclosures caused by unemployment

Read more:
Lending to Unemployed: Frankly, There’s Got to be a Better Way

Distressed properties continue to flood the market and depress housing prices. This, along with a rush to take advantage of an $8,000 federal tax credit that was originally set to expire on November 30, caused home sales to spike in November. Sales were 7.4% higher than in October and were a whopping 44.1% higher than in November 2008.

Originally posted here:
Jump in Existing Home Sales Reflects Distressed Homes Hitting the Market

The Los Angeles Times reports that over the twelve months that ended September 30 small business bankruptcies in California were up 81 percent over the previous twelve months. In all, 19,000 small businesses in California filed bankruptcy, compared to 10,500 the previous year.

See the article here:
California Small-Business Bankruptcies Almost Double